LEGAL SPEND MANAGEMENT SOFTWARE VS AP SYSTEMS

Legal spend management software offers significant benefits that generic systems cannot provide as they do not account for the unique features of legal procurement and legal e-billing. In this article, we look at the reasons for this.

e-Billing Operating Procedures (pre-flight checks for law firms)

Although nowhere near as critical as air safety, several law firms have established the principle of running “pre-flight checks” on their e-Bills before submitting them to a legal spend management or e-Billing system such as BusyLamp. This is done to correct any obvious errors on the e-Bill and therefore reduce the % of invoices that get rejected in the first stage of the validation process. This leads to invoices being accepted and paid by the client faster. Over time, common errors can be identified and processes at the firm made more accurate and efficient.

Go Beyond Siloed Legal Reporting to Manage and Mitigate Risk

Easy to use, clear and comprehensive reporting functionality has evolved from an added bonus to a must-have requirement for corporate legal teams when evaluating legal technology. Where legal operations is missing a trick is when data analysis from a particular tool is used in isolation. Those legal operations teams that are seeing the most value are those that combine data from various technology tools to take their strategic input to the next level. One such area, which is of massive importance to the entire business, is management and mitigation of risk.